New Brunswick has signed the Multilateral Agreement Respecting Pooled Registered Pension Plans and Voluntary Retirement Savings Plans
June 20, 2023
On May 1, 2023, New Brunswick, alongside other provincial governments, signed the Multilateral Agreement respecting Pooled Registered Pension Plans and Voluntary Retirement Savings Plans. The agreement delegates responsibility for licensing, registering, and supervising pooled registered pension plans (“PRPPs”) whose operations fall within the jurisdiction of both the federal government and a participating province to Canada’s Office of the Superintendent of Financial Institutions.
A PRPP is a form of defined contribution pension plan that is designed to provide employees of small- to mid-sized companies and self-employed workers who do not have access to a workplace pension with retirement income.
Click on more information to learn more about PRPPs:
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